Cantor Fitzgerald Reaffirms “Neutral” Rating for Cloudflare (NYSE:NET)

Cloudflare (NYSE:NET)‘s stock had its “neutral” rating reaffirmed by equities researchers at Cantor Fitzgerald in a research note issued on Wednesday, Benzinga reports. They currently have a $100.00 price objective on the stock. Cantor Fitzgerald’s price objective points to a potential upside of 13.87% from the company’s previous close.

Other research analysts have also issued reports about the stock. KeyCorp upped their target price on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Morgan Stanley upped their target price on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Needham & Company LLC upped their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 9th. Royal Bank of Canada upped their target price on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $87.08.

Cloudflare Price Performance

Shares of Cloudflare stock traded down $3.22 on Wednesday, hitting $87.82. The company’s stock had a trading volume of 1,944,292 shares, compared to its average volume of 3,819,576. Cloudflare has a 52-week low of $39.90 and a 52-week high of $116.00. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a fifty day moving average price of $96.84 and a 200-day moving average price of $81.55. The company has a market capitalization of $29.65 billion, a P/E ratio of -160.22 and a beta of 1.12.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. On average, equities research analysts expect that Cloudflare will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the sale, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the transaction, the chief financial officer now directly owns 243,495 shares in the company, valued at $18,926,866.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders sold 1,070,903 shares of company stock valued at $103,653,456 over the last 90 days. 14.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cloudflare

Large investors have recently added to or reduced their stakes in the stock. Riverview Trust Co acquired a new stake in Cloudflare in the first quarter worth $27,000. ICA Group Wealth Management LLC acquired a new stake in Cloudflare in the fourth quarter worth $38,000. GAMMA Investing LLC acquired a new stake in Cloudflare in the fourth quarter worth $39,000. Sunbelt Securities Inc. acquired a new stake in Cloudflare in the first quarter worth $29,000. Finally, Pingora Partners LLC acquired a new stake in Cloudflare in the fourth quarter worth $42,000. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.